Investment Overview

Marcus & Millichap is pleased to present 904-14 24th Street, an exceptional 8-unit apartment complex in the Western Slopes of San Diego’s vibrant Golden Hill neighborhood. Built in 1910, this historic property offers timeless charm and substantial value-add potential, with a coveted Walk Score of 89 reflecting its pedestrian friendly location. Spanning two parcels totaling 7,609 square feet and featuring approximately 5,760 rentable square feet, the asset boasts a diverse unit mix: one 2-bedroom/1.5-bathroom unit, three 2-bedroom/1-bathroom units, two 1-bedroom/1-bathroom units, and two studios (one non-conforming). The interiors have been thoughtfully maintained, showcasing built-in storage, vaulted ceilings, original hardwood floors, and abundant natural light from large windows. Investors can capitalize on untapped upside through targeted renovations and restorations, positioning the property to achieve market-leading rents and enhanced cash flow. Unused lot spaces between the buildings could allow for the potential construction of an ADU further increasing density and rental income. Ideally situated less than a block from Broadway, residents enjoy seamless access to Golden Hill’s eclectic dining, shopping, and cultural scene, with Balboa Park and major freeways (I-5 and SR-94) just moments away. This rare offering represents a prime opportunity to acquire a stabilized, income-producing asset with significant rental growth in one of San Diego’s most sought-after submarkets.